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he company has also set the closing date for the transaction to go through as 1 April 2023. -
Jefferies has been awarded the mandate to seek a buyer for the segment.
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Acrisure entered into a definitive agreement with Markel in March to acquire the MGA.
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The group acquired 13.97 million shares of Sura stock at almost $9.88 per share via the public acquisition offer, valuing the interest at almost $140mn.
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The ECI-backed business will likely be marketed on a ~£15mn Ebitda figure.
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In an interview with this publication, the executive said the broker will consider M&A in its bid to expand.
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DM Insurance Broker specialises in bond insurance and surety bonds across a variety of industries.
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The deal marks Xenia’s ninth acquisition in three years and kicks off its international expansion plans.
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The deal will see the bank pay Covea around EUR310mn for its majority stake in their life insurer joint venture.
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Cabot Square Capital previously owned a stake in the business.
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A proxy statement yesterday also revealed that Berkshire Hathaway’s merger agreement does not demand a break fee.
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The deal comes after NFP bought KGJ in the UK and Thompson Flanagan in the US last year.
